Clunie, who runs SWIP’s UK Flexible Strategy Fund, with a mandate of achieving a positive capital return over the long term regardless of market conditions, has thoroughly beaten the benchmark over one, three and five years.
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Since April last year Clunie has also run the UK Select Growth and UK Opportunities Funds, following the departure of head of equities Peter Cockburn during the company’s restructure.
Jupiter confirmed Clunie would be joining them in July but would not give any more details about the funds he would work on upon arrival.
Total return offering
Miles Geldard, who joined Jupiter around three years ago from RWC Partners, already runs a total return fund for the company, with both offshore (below) and onshore versions. He manages them with Lee Manzi who joined at the same time, also from RWC.
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Geldard and Manzi’s Strategic Total Return Sicav was launched first to build the duo’s track record and the onshore Strategic Reserve Fund lauched this time last year.
At launch we asked if Geldard would be the next Iain Stewart or Andy Cawker, find out more here…
Upon Clunie’s departure, SWIP said Tony Foster, investment director at the fund house will assume responsibility for managing the SWIP UK Flexible Strategy Fund.
He has been with SWIP’s equities team for 13 years and will be supported by Mark Phillips who is already back-up manager and has been with the firm for the same period of time. SWIP added that it wished Clunie all the best for the future.
The firm’s global equities team has been headed up by Will Low since August last year following a tumultuous few months that saw up to 23 jobs cut in the department.
Read Gary Shepherd’s assessment of the situation here…
